Getting out of Back Office!

I am 22 and graduated about 6 weeks ago and was fortunate enough to be taken on by a top IB. I am in a operations role which while very well paid (for a 22 year old) doesn't fit my career aspirations. I want to move into a front office role asap, as I don't want to be stuck in back office for the next ten years. My plan is too do as many professional qualifications as possible, my options are do the IMC and then start the CFA, or do a masters degree in finacial markets and derivatives. Due to the fact that I am on a temp contract I will have to fund all qualifications on my own so its a big step to take. I am probably going to do this for a year and learn as much as possible before trying again for the IB grad programs which hopefully will be alot keener to take me on with a years experience and extra qualifications. Do I have the right idea or am I dreaming? Is it possible to get into front office from where I am and is my plan the best way to achieve it? All advice is very welcome, I have alot of respect for many of the guys on ET as you have been there and done it.

My advise, and I hope this helps, would be to first get your temp status extended to full-time. Then, try to get into the front office but still in an assistant type of role, since the decision makers will then at least get to interact and see your face.

CFA used to get people somewhere, but now they are a dime a dozen, so you HAVE to get it but don't think it will give you any real edge.

Quote from sak07:

I am 22 and graduated about 6 weeks ago and was fortunate enough to be taken on by a top IB. I am in a operations role which while very well paid (for a 22 year old) doesn't fit my career aspirations. I want to move into a front office role asap, as I don't want to be stuck in back office for the next ten years. My plan is too do as many professional qualifications as possible, my options are do the IMC and then start the CFA, or do a masters degree in finacial markets and derivatives. Due to the fact that I am on a temp contract I will have to fund all qualifications on my own so its a big step to take. I am probably going to do this for a year and learn as much as possible before trying again for the IB grad programs which hopefully will be alot keener to take me on with a years experience and extra qualifications. Do I have the right idea or am I dreaming? Is it possible to get into front office from where I am and is my plan the best way to achieve it? All advice is very welcome, I have alot of respect for many of the guys on ET as you have been there and done it.

By the way, if you think a "real" front office job is much better than what you have it, think again. MOst analysts are really just lackies who run the paperwork, granted still getting paid more than you. But after a couple years they shove you out the door to get an mba with no guarantee of hiring you back when you're done.

Just something to keep in mind, don't put those 1st year analysts on too high a pedistal

By the way, if you think a "real" front office job is much better than what you have it, think again. MOst analysts are really just lackies who run the paperwork, granted still getting paid more than you. But after a couple years they shove you out the door to get an mba with no guarantee of hiring you back when you're done.

Just something to keep in mind, don't put those 1st year analysts on too high a pedistal

More...

Agreed... working in equities research is a high paid grunt job, until you are established... and, even then, most of the game is networking and political bullshit...

The best job in the world is not working in an IB or money manager... the best job in the world is working for yourself as a trader from your home office/s...

OK, so if you work for yourself and are consistent you may 'only' clear $100,000 to $500,000 a year (depending on your experience, market environment and capitalization) as a home trader compared to possibly much more in an IB... but the upside is that you do it in your pyjamas/naked, unshaved, can masturbate once you have a good trade, you do it when you want to and most importantly you do it all for yourself... the independence and freedom derived from trading for yourself is simply amazing...

hahahahhaa, i love it!! Yes you get to work in your PJs, but the opposite side is drinking at swanky bars with hot chicks after work. Staying up till one in the morning, hooking up, and one upping the other traders by bragging how much size you did during the day. The daytrader in his basement may make a lot, but if there's nobody to brag about it to, it can get kinda lonely

Quote from candletrader:

Agreed... working in equities research is a high paid grunt job, until you are established... and, even then, most of the game is networking and political bullshit...

The best job in the world is not working in an IB or money manager... the best job in the world is working for yourself as a trader from your home office/s...

OK, so if you work for yourself and are consistent you may 'only' clear $100,000 to $500,000 a year (depending on your experience, market environment and capitalization) as a home trader compared to possibly much more in an IB... but the upside is that you do it in your pyjamas/naked, unshaved, can masturbate once you have a good trade, you do it when you want to and most importantly you do it all for yourself... the independence and freedom derived from trading for yourself is simply amazing...

I am 22 and graduated about 6 weeks ago and was fortunate enough to be taken on by a top IB. I am in a operations role which while very well paid (for a 22 year old) doesn't fit my career aspirations. I want to move into a front office role asap, as I don't want to be stuck in back office for the next ten years. My plan is too do as many professional qualifications as possible, my options are do the IMC and then start the CFA, or do a masters degree in finacial markets and derivatives. Due to the fact that I am on a temp contract I will have to fund all qualifications on my own so its a big step to take. I am probably going to do this for a year and learn as much as possible before trying again for the IB grad programs which hopefully will be alot keener to take me on with a years experience and extra qualifications. Do I have the right idea or am I dreaming? Is it possible to get into front office from where I am and is my plan the best way to achieve it? All advice is very welcome, I have alot of respect for many of the guys on ET as you have been there and done it.

More...

As for the designations you can add CAIA to the list, its only two levels now, just like the CFA used to be long time ago.

If you are on a temp contract, you wont even have a chance to move within the organization. Front office is still bullshit, you might be dealing with the desk but you are still doind ops kind of work.

so you have 2 choices, make your own destiny and start trading on your own, or do a top 5 mba and network like crazy and maybe you get a shot at a junior trader role in a few yrs, and get you own book after few more.

i would take route number 1, that way you find out quicker and with less $ spent if this is really what u want to do.

Great Post. Starting your own business is the way to do it. If I can't start my own hedge fund (in 5 years) than I'll focus on another business/field. But, with time i'm pretty confident I'll be nailing some peoples balls to the stake while trading.

ozzy

Quote from candletrader:

Agreed... working in equities research is a high paid grunt job, until you are established... and, even then, most of the game is networking and political bullshit...

The best job in the world is not working in an IB or money manager... the best job in the world is working for yourself as a trader from your home office/s...

OK, so if you work for yourself and are consistent you may 'only' clear $100,000 to $500,000 a year (depending on your experience, market environment and capitalization) as a home trader compared to possibly much more in an IB... but the upside is that you do it in your pyjamas/naked, unshaved, can masturbate once you have a good trade, you do it when you want to and most importantly you do it all for yourself... the independence and freedom derived from trading for yourself is simply amazing...

This is not true. I can trade at home/office with say 3-4 close friends partners after the work day is done we can rip it up. Your making a generalization of the home day trader as if he's a hermit. This is not true for everyone. When I get things to roll properly I'm buying a place in Amsterdan trade during the day and go wild at night/week ends.

o to the z

Quote from landboy:

hahahahhaa, i love it!! Yes you get to work in your PJs, but the opposite side is drinking at swanky bars with hot chicks after work. Staying up till one in the morning, hooking up, and one upping the other traders by bragging how much size you did during the day. The daytrader in his basement may make a lot, but if there's nobody to brag about it to, it can get kinda lonely

I had a lot of coffee this morning so I'll make one more point. This is the way I think. If these panzies at these hedge funds are making a killing, there is no way in hell that I should not make as much or not more than them. I will do everything possible to reach this goal (short of dying). I'm bascially out for blood and I won't stop until I get it.